Pool Corp., a Covington-based distributor of supplies for swimming pools, reported fourth-quarter earnings of $18 million compared to $16.8 million in the fourth quarter of 2018.
Net income amounted to 44 cents per share compared to 41 cents per share a year ago.
The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for 35 cents per share.
Pool Corp. posted revenue of $582.2 million in the period compared to $543.1 million in the fourth quarter of 2018, also exceeding Street forecasts.
For 2019, Pool Corp. had record sales of $3.2 billion, topping the $3 billion in sales it posted in 2018. Annual earnings rose to a record $261.6 million compared to $234.5 million in 2018. Earnings per share also set a record $6.40 per diluted share compared to $5.62 per diluted share in 2018.
Pool Corp. expects full-year earnings in 2020 of between $6.47 to $6.77 per diluted share.